Ned Nederlander Posted January 17, 2014 Share Posted January 17, 2014 As Ally McCoist has recently stated, ''Our higher gate revenues allow us to pay higher wages''. This allows us to attract better players and having better players than the opposition, generally leads to being more successful than that opposition. And yet Oldco still went tits-up 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted January 17, 2014 Share Posted January 17, 2014 One other thing... how much would an across-the-board 15% players pay cut represent? And would it put them on break-even (I'm guessing not going by the article linked above), or just buy them a few more months (or weeks) to try to find other savings / or offload people / or hope something comes along? 15% of £6 or £7 million to the players wages would be either £900K or just over £1 million but they haven't factored in the players bonuses either which they will receive after next years ST's have been safely put in the bank. It would appear that they are trying to get spending in line before they get promoted to the Championship so they won't have any or much debt avoiding any insolvency event this season, but I fear they will go into administration sooner rather than later. 0 Quote Link to comment Share on other sites More sharing options...
Ned Nederlander Posted January 17, 2014 Share Posted January 17, 2014 One other thing... how much would an across-the-board 15% players pay cut represent? And would it put them on break-even (I'm guessing not going by the article linked above), or just buy them a few more months (or weeks) to try to find other savings / or offload people / or hope something comes along? Between £0.75m & £0.9m if the quoted wage bill of around £5m or £6m is correct. 0 Quote Link to comment Share on other sites More sharing options...
Ned Nederlander Posted January 17, 2014 Share Posted January 17, 2014 It was on my FB feed and I'd expected to see it here but haven't : "We don't do docking our pay !" 0 Quote Link to comment Share on other sites More sharing options...
jagfox Posted January 17, 2014 Share Posted January 17, 2014 0 Quote Link to comment Share on other sites More sharing options...
sydney Posted January 17, 2014 Share Posted January 17, 2014 Why would Sevco receive a sell on fee for Jelavic? Was wondering the same thing myself. Jelavic was sold by the old club. There will be no contract between Everton and the current "Rangers" so why would Everton pay the current club £300k ? I'm sure BDO will be on the phone to Everton first thing in the morning making sure they secure the £300k for the benefit of the former club's creditors. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted January 17, 2014 Share Posted January 17, 2014 Between £0.75m & £0.9m if the quoted wage bill of around £5m or £6m is correct. It is actually quoted as being between £6 & £7 million . http://www1.skysports.com/football/news/11788/9119029/scottish-football-rangers-players-reject-proposal-to-cut-their-pay-by-15 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 17, 2014 Share Posted January 17, 2014 Then again £300k only covers 9 days losses... Imagine someone has a full time job setting fire to a 20 pound note which burns to ashes every 15 seconds. Then lighting another and another 8 hours a day with no tea breaks or lunch breaks. That is what has been happening for two years. Lots and lots of ashes. 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted January 17, 2014 Share Posted January 17, 2014 You know what ?, actually slashing about £1 million off the players wages doesn't even come close to plugging the financial canyon at £1 million plus a month, even if they sacked all the players it would still not cover the loses as they'd still be £5 million plus short !!!. 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 17, 2014 Share Posted January 17, 2014 Tom English @TomEnglishSport 19m The Ibrox board’s grand plan, Operation Buckpass, hasn’t fooled many among the support. Players asked to bail out the suits. Fans’ turn next 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted January 17, 2014 Share Posted January 17, 2014 (edited) One other thing... how much would an across-the-board 15% players pay cut represent? And would it put them on break-even (I'm guessing not going by the article linked above), or just buy them a few more months (or weeks) to try to find other savings / or offload people / or hope something comes along? Basing figures up to the 17th of May... as it stands with Sally's wage being signed off, the company have saved 120k in Sally's future wages up to the 17th of May. Say their player wage bill is 6 million. 15% is 18750 a week in wages they could save if agreed. So if the players had agreed it, they would have saved a further 320k up to May 17th. Potentially they could have saved 440k, as it is, with just sally agreeing, they have saved 120k. Ironically Sally's wage taking 4 months to reduce cost them 120k over 4 months. Edited January 17, 2014 by dave.j 0 Quote Link to comment Share on other sites More sharing options...
jagfox Posted January 17, 2014 Share Posted January 17, 2014 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 17, 2014 Share Posted January 17, 2014 Between £0.75m & £0.9m if the quoted wage bill of around £5m or £6m is correct. The wage bill according to the accounts was 7mill+, IIRC. 0 Quote Link to comment Share on other sites More sharing options...
HibeeJibee Posted January 17, 2014 Share Posted January 17, 2014 Was wondering the same thing myself. Jelavic was sold by the old club. There will be no contract between Everton and the current "Rangers" so why would Everton pay the current club £300k ? I'm sure BDO will be on the phone to Everton first thing in the morning making sure they secure the £300k for the benefit of the former club's creditors. I looked this up myself when I saw Jelavic's deal... It seems BDO 'sold' or 'packaged' half of OldCo's sell-on rights in what they sold to Green. The club’s liquidation means all monies raised for deals struck by the oldco are split evenly between the newco and the liquidation pot. As such, the current board will only see £300,000 of the Jelavic cash while twice that amount would have been heading their way had liquidation not occurred. A Rangers spokesperson confirmed: ‘The club will benefit financially from a sell-on clause that was in the original transfer agreement with Everton. The money will be split between the club and the liquidation estate in accordance with an agreement that was made with the joint liquidators from BDO LLP.' 0 Quote Link to comment Share on other sites More sharing options...
shiltrum Posted January 17, 2014 Share Posted January 17, 2014 So, it was... Then it was... Then it was... And now it's... The rangers International - The Oprah Winfrey of Scottish Football Finance. HAPPY PAGE 5088, EVERYBODY! 0 Quote Link to comment Share on other sites More sharing options...
jagfox Posted January 17, 2014 Share Posted January 17, 2014 0 Quote Link to comment Share on other sites More sharing options...
Lex Posted January 17, 2014 Share Posted January 17, 2014 They are the Portsmouth of Scottish football. Leeched on by all and sundry and bled dry. A new owner, CEO, chairman or whatever every other week. Each one gorging themselves like the swine they are on the ever depleting trough of cash provided to them by fans. It's hard not to feel sorry for these fans. It's hard not to, but I still manage not to. I don't think a club based at Ibrox will ever be a true footballing force for a long time. They're in such a mess. Celtic could conceivably win 20 in a row, never mind 10. 0 Quote Link to comment Share on other sites More sharing options...
jagfox Posted January 17, 2014 Share Posted January 17, 2014 0 Quote Link to comment Share on other sites More sharing options...
Lex Posted January 17, 2014 Share Posted January 17, 2014 (edited) Double post. Edited January 17, 2014 by Lex 0 Quote Link to comment Share on other sites More sharing options...
sydney Posted January 17, 2014 Share Posted January 17, 2014 I looked this up myself when I saw Jelavic's deal... It seems BDO 'sold' or 'packaged' half of OldCo's sell-on rights in what they sold to Green. The club’s liquidation means all monies raised for deals struck by the oldco are split evenly between the newco and the liquidation pot. As such, the current board will only see £300,000 of the Jelavic cash while twice that amount would have been heading their way had liquidation not occurred. A Rangers spokesperson confirmed: ‘The club will benefit financially from a sell-on clause that was in the original transfer agreement with Everton. The money will be split between the club and the liquidation estate in accordance with an agreement that was made with the joint liquidators from BDO LLP.' Thanks, that explains it. I'd be mega pissed off with this if I was one of the Oldco creditors ! 0 Quote Link to comment Share on other sites More sharing options...
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